Standard & Poor's considers chances of a credit ratings downgrade for India higher than for Indonesia, as reported by the Bloomberg News, citing comments made by the credit rating agency in Seoul.
S&P analyst Kim Eng Tan said there was more than a one-in-three chance for India rating cut from the "BBB-minus" rating on India with a "negative" outlook and that downgrade would push Indian economy to "junk" status, while the rating agency S&P rates now to Indonesia at "BB-plus." The rupee touched a new low of 67.63 to the dollar after the news.